Some people refer to the Diamond Network as the blockchain Internet, which is a great point of network communication. In this industry, various blockchain networks have pushed the market value of cryptocurrencies to hundreds of billions of dollars, but have not contributed meaningful products to the world.
The origin of the Diamond Network
In 2014, the founder of Diamond Network: Ethereum invisible brain Thomas Daly was one of the first researchers to explore the direction of Byzantine fault tolerance in the context of the PoS equity blockchain. In the same year he published BPOS: Paper on No Energy Consumption Consensus Consensus. The basic idea of BPOS allows a large number of distributed nodes to agree on a consensus without the need to prove the mining of PoW workloads that Nakamoto’s consensus relies on.
The Nakamoto consensus is a major breakthrough in the distribution of trust among multiple nodes, but it has limitations, such as slow speed, waste of resources outside the network to reach consensus, and so on. The BPOS consensus algorithm is an algorithm that introduces staking equity pledge, verification, and leadership rotation elections to improve the limitations of Nakamoto’s consensus.
Diamond Network’s SDK Software Development Kit is a framework for building blockchain applications based on the Golang programming language. Developers can build their own scalable blockchain using the efficient Golang language based on BPOS consensus.
Diamond Hub will initially be the main hub, but as time goes on, there will be more hubs connecting different regions. If you are building a Bitcoin-linked project like Nomic, you can connect to the Diamond Hub via cross-chain communication, and the BTC can interoperate with all tokens connected to the Diamond Hub. It is conceivable that the interface on the widely connected hub enables decentralized transactions including all ERC-20 tokens that support cross-chain communication. This new structure weakens the centralized exchange, allowing cryptocurrency users to freely navigate through different communities.
As the blockchain technology continues to improve, the blockchain value islands will be able to interact, and this requires a lot of time and effort behind it, changing the interoperability of the blockchain through technology. Just as the founder of Diamond Network: Ethereum’s invisible brain Thomas Daly, on the road to innovation, we are not enjoying happiness, but enjoying pain.